course we need cuts, you need it in stages. you don't do it whentheeconomyisfragile. you do it when the recovery is stronger. and these across the board cuts, bad news. >> and tobin, i wouldn't call them cuts, they're trims, and to hear the white house, i'm afraid to go out of the house, should we be scared of this? >> obviously, the economy is scared of something else and scared of it turning to 26 trillion dollars in a 15 trillion dollars economy, in other words, we would in fact be great. the 85 billion, of course, doesn't account for the 50 or 60 billion, and if you add that back in. this is literally what the government spends, remember, the government spends 4 billion a day and this is actually, to carry this, this is about, you know, maybe ten days of total spending all in. no, it's not a big deal, it's total semantics. >> we've got selling on this show, gary b. shouldn't we be hitting the panic button? >> absolutely not. we should be hitting the panic button if we do nothing. because there's a few head scratchers here, i know that jehmu is worried about this. look around. is

and mild way and raise the minimum wage that it has a positive effect on thelocaleconomy. positiveeffects in terms of lower training costs and turnover and less lost time at work and dedicated employees, so small businesses, mid size and large businesses benefit from in, as well as local government because they don't have as many people relying on social services. so, the data doesn't back that up. in fact, it's a positive thing he when we do it in a planful fashion to raise the minimum wage. >> on this issue, just like an economist. on the one hand, on the other hand, there are studies on both sides. but jonas there is an argument that higher minimum wages reducing turnover, which lessens the costs of employers and could increase employments. >> you would never leave the job if you could get it, it's a pretty good wage. negatives and benefits. both sides of kind of right. if the minimum wage is low $2, it wouldn't disrupt the job market. if it's $50, high unemployment, but a-- there's obviously a level between there where the negatives would exceed the positives. there

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who are bringing prosperity totheeconomy. >>is this short -- >> it will ultimately work out if the economy can get by with the back to normal payroll tax. this could juice it back around. there's no perfect plan the government can do, but it's possible this payroll tax cut could be lowered in the recession and raisedded in boom times to make up for the cut. wwn time. >> we did. happy friday, everyone. adam: i'm in for melanee stubbs. -- melissa francis. both sides red gi to let it happen, all hope is not lost. david walker, former u.s. comptroller says there's a possible fix, and he joins us to explain his plan. plus, prepare yourself for a meat shortage. forget soaring prices, the cuts could bring the beef industry to a halt. steak lovers get used to eating tofu. an expert is here to tell us why. close up for the oscars, but commercials, as you and i know them, could take a final bow. a breakthrough in the industry allows advertisers to control what you see in realtime. we could watch the same oscars, but very different commercials. the man behind it will explain how to cash in. e

than six nap%. so far this year. joining us now to up tell us where these markets andtheeconomyisheaded, well, we will be talking with and welcome to our own rick adonis, senior u.s. economist for deutsche bank security. good to have you here. your year. i mean, we have people walking around with long faces. all parts of the country because they're unemployed. the economy is contracting. and they just don't understand how nice it is to be on wall street. >> well, it is chilly down on wall street. i assure you. but we are seeing some positive signs in the economy. so, yes of the fourth quarter did not look so great. the best top-level gdp number. but when you look beneath the surface we see some important undercurrents. does green shoots cut consumer spending. lou: seeing that come back. >> consumer spending is picking up. the investment which had been contracting. nav is picking up again. the housing market is picking up. but the domestic economy looks dece. it needs time to run until that an employer rate is down, but it increasingly looks like we are building some momentum. lou

this is a bad sign. >> sure. it's a sign thattheeconomyisstill weak and that any policies that take money out of the hands of the middle class and that lee deuce their disposable income is going to have a negative impact on the economy, and it comes as an opportune time for policymakers in washington as they contemplate the sequester cuts which currently constituted hits the middle class hard, further weakens the economy. it's the wrong thing to do right now. what we should do is alternate ways. adam: alternate, i got to ask you, it's a perfect storm of bad news. about to cut, the sequester cuts in government spending, people lose jobs, less money out there. they can't cut taxes again or can they and should they? >> what we need to do right now is think about alternatives to the sequester cuts and the solution, i think, is for republicans in congress to recognize that tax breaks and other spending programs in the tax code are the equivalent of government spending program, and if they encyst on cutting government and reducing the size of government, that's where we should be loo

they can't get to their spending nirvana without gettingiseconomygrowing.andtheeconomyishobbling along, even if slow runners can across the finish line. neil: we may be bac to levels of the market where we were five years ago. but it has been a steady climb back to worst -- excuse me, from the worse. net net, is a good barack obama? >> yes, i am for it. we are all investors. we all want to see this thing improve. i agree with bob that economics is about choices. neil: i do buy your argument about the slowly inching back economy here. not in the gangbuster fashion, but enough to compel money that has been nervous. and sitting on the sidelines come back in. but the way it is being committed is not to expand plans and operations as much as it is to retrench buying out a competitor. you're really not expanding your business but you're really just retention the existing business. you are not heralding the success of what is going on. you could argue it is part of the bunker mentality. explain the mechanics of what is happening. >> i think you're absolutely right. the way i pu

sequestered because it is a wholly unnecessary will runtheeconomyifit were to take place. >> except there were others in the president's party like former democratic national committee chairman howard dean suggesting the president should let the sequester happen to slice the pentagon's budget. telling the huffington post, i am in favor of the sequestered. it is tough on things that i care about a lot, but the fact of the matter is, you are not going to get another chance to cut the defense budget in the way that it needs to be cut. white house officials disagree. as does the outgoing defense secretary leon panetta warned such deep cuts could leave america with as second-rate military. lou: you will remember republicans were furious before the election and the white house was not complying with the warrant act which is a law that basically says employers need to warn employees about upcoming furloughs. the white house pushed back on all of that. now they are releasing those for loan notices. remember, people the 30-60 days in some cases on notices, which means these furloughs will ta

-- aristocracy versus capitalism you can achieve success, not be bailed out thenthiseconomycreatesjobs and allows people to move ahead as abraham lincoln said improve their lot in life. government hurts' opportunities come to keep people in their place and is not a how to create things. free the people. they will do its. [laughter] john: you may kitchen ventilation systems in the kitchen to suck up the bad air but government wants to make your business better so then they will help all of the of the if you focus on 79 pages of regulation, and many manufacturers are very small, it is too abstract it is impossible to read. >> notice of proposed rulemaking subsection 13, a complete missing in action is unintelligible then they try to make your fans used less electricity. so we have a paradox but he wants to regulate us to death so with creativity with the small investments made over a long period of time and government dampens that for the economy. >> keep in mind if you don't succeed in a tr free market even if you meet the needs and wants of other people. john: not the caricature f obam

morning, everyone, wal-mart sold less stuff. that's a measure of theoveralleconomy. wal-marttook in less money. wal-mart sales were down. wal-mart tells the economy's story. what's going on here? well, start with gas prices, up again today, by the way. up nearly 50 cents this year, you can't spend at wal-mart when your gas costs so much more, so suddenly. and then there's taxes up for everyone as of january the 1st. you spend less when your paycheck shrinks, throw in rising unemployment and a president who wants another round of tax hikes and you've got a weak economy. telling me, really? is it all the republicans fault? "varney & company" is about to begin. [ male announcer] surprise -- you're having iplets. [ babies crying ] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new ansmission. [ coyote how ] how about no more surprises? now you can get all the online trading tools you need without any surprise fees. ♪ it's not rocket science. it's just common sense. from td ameritrade. >> all eyes on the market this morn

economy, dowjones has one of the best january in years. if the dow has a great january, oil prices likely will follow. that is what we're seeing. gasoline prices following. not only that, refineries haven't necessarily switched over to summer blend of gasoline but are preparing to do so for the all-out production will bring, not only that, a job in that as well. sandra: i want to challenge you one thing. he said gasoline prices will track the price of oil, but let's throw out the price of oil and gasoline this year. oil prices up year-to-date 4.1% while gasoline prices are up three times that, more than 14%. so gasoline prices are way outpacing the price of oil. >> that happens from time to time. gasoline prices didn't necessarily go as low as oil prices. this last november. right now a lot of it is a primary bottleneck why prices haven't followed crude oil so closely. we still have that bottleneck in the way causing a spike in gasoline prices, refineries moving production preparing for summer driving season. sandra: the bottom line, oil prices have gone up, we cannot refine all th

whole host of things that are going to be not crushingtheeconomyata time when it is very fragile as it is. so there are certain things i think we can agree upon but right now, there is act absolute gridlock. washington is a mess. we need to work together in a truly bipartisan manner as americans first with our backs against the economic wall. we need to do it together and i don't see anything like that happening anytime soon. sandra: so, kevin, senator brown sounds very doubtful right now. maybe the timing is a little bit different this time around? we're days from the deadline of the sequester on march 1st. maybe now the pressure will help something get done and maybe they will take a second look at the simpson-bowles plan number two? >> we can hope so i think really what is going on here that bowles and simpson are tired of, you know, basically being a front for president obama's inaction and so they have come out with a proposal that, you know, sure there is 600 billion more in tax revenues than republicans would like, but it is not that bad of a proposal compared to certainly wh

utility bills. this is spreading to every fascet ofu.s.economywe'retold that winter has weeks left, growing signs this evening this keeps up the same could be said of the recovery itself. phil, you follow this, what is going on? >> you know we had everything that could go wrong, go wrong. we had refinery issues, hurricane sandy, and refinery fires, this is around the country, on top of that because of fed fed policy, -- federal reserve policy the price of oil has gun up over $10 a barrel in under a month, that is a recipe for sharply rising prices. neil: normally that stuff creeps up in other areas not good. >> i actually am more amount mystic. -- optimistic, fuel costs represent about 4% of pretax income. i think that the consumer has lost that payroll tax credit, they are still spending they are not increasing it but they are maintaining their baseline. other thing that should bring optimism they are increasing level of nonrevolving borrowing, they are setting themselves up to purchase big ticket items, under the stats, give you a sense there is a left of consumer -- a level of c

, everyone. canoureconomyhandlewhat's happening at the pump? good question. you've seen it every day for more than a month and they've changed the signs at the gas station and prices have gone straight up. today, triple-a says regular costs 3.74 a gallon. we're closing in on a 50 cent gain just this year. four big population states are at or very close to $4 a gallon already. all right, now shall the impact. every penny that gas goes up takes 1.2 billion dollars from consumer spending, like a tax. and it comes on top of other tax increaseses that cut everybody's paycheck and will slow a weak economy and some say brings recession that much closer. watch out. "varney & company" is about to begin. [ male announcer ] at his current pace, bob will retire when he's 153, which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on hisortfolio. and with some planning and effort, hopefully bob can retire at a more appropriate age. it's not rocket science. it's just common sense. om td

people who are bringing prosperity totheeconomy. >>is this short -- >> it will ultimately work out if the economy can get by with the back to normal payroll tax. this could juice it back around. there's no perfect plan the government can do, but it's possible this payroll tax cut could be lowered in the recession and raisedded in boom times to make up for the cut. b. adam: that's all that time we have. melissa will be back monday. ♪ gerri: hello, everyone. tonight on "the willis report" another unintended consequence of obamacare. now your health insurance may not cover your spouse and more. and starting to get hit by the sales tax. one economi says the designers of the law were all wrong. and, to top tier weekend. we have you covered with the important things like what the stars are going to wear and what is really in those slight bags. "the willis report" is on the case. ♪ gerri: all of that and more coming up later in the show. first, our top story. listen to this. honey, you are uninsured. yet another consequence of obamacare. you can add it to the list. more and more e

. stuart: tell me the truth. do you think that president obama really values growth foroureconomyorredistribution of the wealth? >> i think he's far more in the camp of redistribution than growth. and his central campaign theme he made clear was redistributing wealth and he's done it, kept his promise. >> let me read this for you. the congressman henry waxman demands more executive orders from the president. in a letter to the white house, waxman wants the president to issue new regulations on everything from power plants to oil refineries and even household appliances. henry waxman, a member of congress, he wants the president to go around congress with his voice. >> we have the separation of powers in this country. something that's hugely important. with a waxman is recommending and i recognize just waxman represents to me a liberal, too. and i'm against conservative or moderate as liberal. but the idea of president going around congress to get things done, especially when he gets up in his state of the union and says that the sequester is not his work, but the work of congres

the national average. they have high leverage intheeconomy. thereis going to be an unintended consequence, unfortunately, if there is not a deal made in 11 days. ashley: would you agree that defense spending needs to be reformed? it may be the wrong way to do it, but it seems to be the only way. >> the suddenness. in the past, abbott there -- in the past, there was a planned slowdown of an amount of what we are facing here. we have already taken a 12% cut for defense contractors and they are looking at another seven-12% again. ashley: how much does this compromise national security? >> well, clearly, one of the ways that will be cut in and unplanned fashion is to stop paying for discretionary things like language interpreters and servicers, as well as, maintenance and operations. that means we will not be able to deploy our forces overseas. whether it be for military purposes or expeditionary purposes for humanitarian aid. ashley: tom, quickly, they are supposed to give 60 day notices. if these cuts go into effect in 11 days, that will not happen. what is the outcome of that?

gasoline prices, higher taxes, weakeningtheeconomyandtaxes,weakeningtheeconomyandharris on what the future holds. before copd... i took my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicort. it helps significantly improve my lung function starting within five minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms. with symbicort, today i'm breathing betr. and that means...fish on! symbicort is for copd including chronic bronchiti and emphysema. it should not be taken more than twice a day. symbicort may increase your risk of lung infections, osteoporosis, and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking it. with copd, i thought i'd miss our family tradition. now symbicort significantly improves my lung nction, starting within 5 minutes. and that makes a difference in my breathing. today, we're ready for whaver swims our way. ask your doctor aut symbicort. i got my f

are putting a lot of fiscal drag. that is a lot of money foraneconomyonlygrowing 2%. my concern is not a major selloff, but a growth disappointment in the first half. we are looking at a correction, should that happen. connell: we will have this debate and continue to have it. some people are saying that this of kuester is a really big deal. it is in a slow bleed. it is not as big of a deal. >> you cannot look at it in isolation. in total, again, it is not a game changer, but it will be a drag for the first part of the year. connell: pretty good acronym. thanks a lot. >> thank you, connell. dagen: gas prices at a record high for this time of year. we have the chief oil analyst for the oil price information service, tom kloza. you didn't really see this coming, did you? the run-up that we got so early in the year. >> i did not see it coming so early in the year. it is pretty typical of the run-up. there are a couple of extra things that are contributing this year. we have seen this movie before and we know how it ends. dagen: talk about the refineries in the amount of money that the

sequester plows into theu.s.economy. whois really facing the most financial pain? how can you make money from it? today's panel cuts through all the washington noise to get you some answers. >>> plus a breakthrough for health care. thousands of self-serve kiosks come to wal-mart and sam's club stores. can free health screenings prove a game-changer for providing care? the founder and ceo of the company behind them joins us. >>> ditch that fancy trip to the caribbean and come get baked in colorado. call jeff sipc oli. it gets green light from colorado regulators. businesses plan to lure tourists and turn colorado into the next amsterdam. will be a hit or the next buzz kill. even when they say it is not it is always about money adam: good evening to you. just eight days and a few hours until the latest government improsed fiscal disaster. eight days until cuts that both sides say they will completely crater the economy take place. and just eight days until budget cuts could tank wall street and the stock market rally which up until today had the s&p and the dow up 6%. let's get right to ou

the united states. higher gasoline prices, higher taxes, weakeningtheeconomyandharris on what the future holds. lou: delighted the chief commiist, ubs, will be joining us here to give us his outlook on the economy and view on the stock market, but wall street ended with a rally. s&p gained 13. the nasdaq picked up 30 points. volume on the big board today down to 3.4 billion shares. the courts handed green liht capital a victory in the fight with apple to return $137 billion to shareholders. apple shares up a share today, just winning a battle in that war. hp up 12%, hopes the company is on the road to recovery after beating quarterly expectations. you remember when hp was written off. what was that? oh, about three months ago, wasn't it? for the week, the dow, the winner, the s&p down, snapping a seven week win streak. the nasdaq lost about 1%. gold closing at 15 72.80 an ounce, down $37 this week. crude oil with a gain at 93.13 a barrel. in the bond market, ten-year treasury yields. there's less of a threat to the economy than, well, some politicians suggest. joining us now with

economyatrisk just to protect a few special interest tax loopholes that benefit only the wealthiest americans and biggest corporations? that's the choice. are you willing to see a bunch of first responders lose their job because you want to protect some special interest tax loophole? are you willing to have teachers laid off or kids not have access to head start? or deeper cuts in student loan programs? just because you want to protect the special tax interest loophole that the vast majority of americans don't benefit from. that's the choice. that's the question. and this is not an abstraction. there are people whose livelihoods are at stake. there are communities that will be impacted in a negative way. i know that sometimes all this squabbling in washington seems very abstract. and in the abstract, people like the idea, you know, there must be some spending we can cut. there must be some waste out there. there absolutely is, but this isn't the right way to do it. so my door is open. i put cuts and reforms on the table. i am willing to work with anybody to get this job done. none o

stoufs the betters fortheeconomyinthe long run. >> the interesting point about jobbings. unions want the pipe lines. >> of course tha do. >> the members saying we want the jobs here. there is it an irony to what the protestors are all about. they don't want the pipe line because it will unwind autoefficiency standards and we have electric fired from energy from coal that really pollute. >> i don't believe rick's protestations that the democrats want all of the above. our governor in new york state doesn't like nuclear and like fraking but he is not interested in turning down his air conditioner. >> the president will have to choose between the environmentalist who are protesting loudly and on the other side the union guys who want the jobs, who should he choose? >> he should choose union and he will go to the environmentam. he believes it is bad. >> rick, not only has he said that past. but mr. c, had u said that. >> when did they say it a bad thing. >> they are the carbon. >> he has a dinosaur that oil is a thing . past. always expect the unexpect would. >> last word from mr. f

executives to give the real story. plus, now just seven days until the sequester.theeconomyalreadylies in its cross-hairs. is your 401(k) even more at risk? why you may want to check your portfolio. >>> and we'll drink about anything to score a caffeine kick but you would rub jell on your skin to get a bigger energy high? a breakthrough hopes to revolutionize a multibillion-dollar industry. shark tank's damon jobs is one of the guys behind it and he is here in a fox business exclusive. even when they say it's not it is always about money. adam: melissa francis is on vacation. i'm adam shapiro. we'll start tonight with a warning from bellwether wal-mart t says they're facing a sluggish start to the year because higher payroll taxes and higher gas prices are weighing on sales. here's what one wal-mart executive said in an e-mail to his colleagues. in case you haven't seen a sales report these days, february, month to date sales, are a total disaster. the worst start to a month i have seen in my roughly seven years with the company. now we all know that when wal-mart gets hammered, it's n

says theu.s.economywillgrow slowly this year as tax increases and spending cuts offset improvements in the private sector. bruce willis is "a good day to die hard" pulled in $25 million. "identity thief" rant and with a close second, 23.4 million. that is the latest from the fox business network. giving you the power to prosper. ♪ customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. ♪ dagen: $101.7 billion over the next ten years. the joint committee think this is the cost of a massive new sales tax to pay for obamacare. elizabeth macdonald is here with the bottom line. explain how this is, ultimately, being passed on. >> it is an excise tax or sales tax. look at this number. $7200. health insurers will pass this on. look at this. joint committee and taxation think that health insurers will pass this on. expect it to hit the insurance, basically, consumer in the form of higher premiums. they estimate 2.5% greater cost. we have two congres

. remember, the sequester was his idea. the effects ontheeconomyisclear. the economic recovery is being held back by washington. goldman sachs chief u.s. economist out with a new report, saying that the onomy will ntinue to go well below its potential. most consumers obably weren't aware of the hit to their disposable income until they receive their mid-january paycheck. one republican pollster in a new report rights that we have entered a new phase for the dysfunction and paralysis in washington is having a significant impact on how consumers feel about the overall state of the economy and their personal financial situation. the drop in consumer confidence, he says, is directly related to a lack of competence in our current political leaders. consumer confidence has taken a hit, a big one since post-world war ii history. already there is evidence of a slowdown in consumer spending. reports that wal-mart had its wot start to its month in seven years. the payroll tax hikes may be starting to bite. gas prices are up 51 cents in the last two months. prices are up every single day sin

marathon oil there, so they put on a great show, and i think if you believe theworldeconomy'simproving,that's another area to continue to improve from the equity's side as well. liz: do you believe that, ben? do you believe the economy's improving? >> i do. liz: slightly; right? i don't know why -- i'm not putting on a cheer leading skirt -- >> please, please do. >> it's improving if you're a refiner, right about that. liz: leave it to elliot to get off the cheer leading skirt -- >> killing it, killing it. liz: exactly. ignore this world economy, great conversation, thank you so much. our one and only floor, under the weather, hmos like humana and united health with a great deal of exposure to medicare rates. here's why. rates could go down next year based on what's being said by the center for medicare and medicaid services. peter barnes followed the story from washington. isn't that what people want? rates to go down? >> well, not if you're investing in health insurance stocks; right, liz? health insurance companies, and the industry plans to fight back on some proposedded cuts that

which taxes inthiseconomy. thisis not a good thing. gerri: i want to take you back to something that you just said that i have heard before and i think is really interesting. you say obamacare will collapse under its own weight. how is that going to happen? >> well, i think that that tax burden is causing revolt. i think you're going to see a real problems with the implementation of this. states are having trouble putting these exchanges together other states are not going to do it. i think at every step of the way they are missing deadlines and the implementation. gerri: well, the compliance rate, i think it will be interesting to see you get someone in goes a long illness. you have been absolutely right. you know, we have been talking a lot about the different things that people have to do. h&r block and feels like they have to educate people on what they're going to end up paying because they realized that a lot of their customers who are low-income will end up losing there refunds because of it. there are so many unintended consequences. are you hearing from your constituent

hurtingoureconomyandwhat we need to spark more growth. sandra: crocs ceo joining us first on stock business, a pop today, following earnings, find out what the foot ware company is doing to follow up a record setting 20 # 12. david, the shoes still sell like hot cakes. daifd -- david: they came back because of good management. we'll talk about that, but, first, what drove the markets today with the data download. a sea of red on wall street with all three ending lower the second day in a row. s&p in negative territory for the week, on track to snap the longest winning streak in more than two years. materials, financials, and technology the worst performing sectors today while telecom and consumer staples posted gains. americans applying for jobless benefits rose more than expectedded last week. initial claims jumped 20,000 to 362,000, and revised higher, and this happens often by 1,000 to 342,000. existing home sales edged higher in january as inventory dropped to the lowest level in more than 13 years. the national association of released -- of realtors had it 4.92 million, sandy?

politicians are not going -- and going to remain dysfunctional and thattheeconomyisweak. gerri: a long way to go. i think you're absolutely right. those memories are still fresh of losing half of your retirement savings. you don't forget that in a heartbeat. they come up with reasons for delaying retirement. 58 percent said don't have enough savings. outstanding debt and market stability in housing values. and interesting because so much of regular american wealth is tied up in their house. that took a major hit. >> absolutely. gerri: and so when you look at market stability going forward, there seems to be no real place in the stock market that will continue rising even though we have seen a great run. what is amazing is the number of individual investors stayed at of the market despite the fact that we keep seesawing back and forth over the 14,000 level on the dow. >> well, you know, investors have been burned, but nothing the other thing, the reason my retirees are fearful is that interest rates are so low. takes two and a half times more money to generate the same amount of in

city from collapse. ashley: speaking of financial trouble, the man who led greece whenitseconomyeventuallywas created, he has a job. details coming up. ♪ today is gonna be an impyou ready? for us. we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. shibani: get ready for it. moving coast to coast a winter storm now hammering places like kansas and nebraska. where is it heading next? we have the very latest. should i be getting my snow boots out for the weekend? >> that definitely depends on where you live. a lot of whether going on this afternoon. heavy snow continues to fall right around the st. louis area. that being mixed in with some sleep there. we are getting reports of anywhere from nine-11 inches already right around the kansas city area. this is an ice storm. very slippery conditions around springfield

and hurtstheeconomyanddevastating to poor folks and folks on a fixed income and both pears are guilty of this . goods that cost a thousand buckings cost 13,000 -- $1300 >> wayne, what do you say? >> i agree with him. with the treasury selling an enormous amount of dibit, 70 or 80 percent of the treasury bills and bonds that are sold and brought by the federal reserve. the public doesn't understand that. but that is what is happening. that is inflation that kills us all at some point in time. the problem with food prices, isified . that means both chicken and beef suffer as a result. when a farmer's cost go up, he will pass it on to the consumer and the consumers pays more. >> i see that happen. gary what do you say is that critically important. >> for a family of four every dime counts and when they are sitting at the table, everything matters and looking at the checkbook, john thown is it right. the fed is pnting money and we are seeing inflation. i am worried about the hyper inflation. >> and margey, what do you say? >> i have gone around the country and talked to walmart mom

you? >> it says thattheeconomymustbe strong or we have real strong tensions in the middle east again. the economy getting stronger is the more likely scenario. cheryl: gentlemen, thanks to all of you. i appreciate it. thank you for being on our floor show. sony playstation four will be available in 2013. playstation4 features new graphics, social and mobile technologies and a new controller. the only thing missing is the playstation four from last night unveiled. joining me now is the ceo and president. >> i did not know how excited people would be about a hunk of plastic. cheryl: did you do that on purpose, though, to not show? >> i guess, you know, it is something we really did not focus on that much. you look at the machine when you put the disc in and made you look at the screen. shame on us. cheryl: next launch, have the consul ready. the ps3 faced a lot of criticism because of its price. will you price this will lower? kind of get some consumers back, if you will. >> i think we are very conscious of the price evaluation. if you look at the playstation three today, it is $

economythrives,but news today, it could be diving. automatic cuts around the corner, but the white house says it is calm. the guy at the receiving end of the blow saying democrats are as calm as the union guys who hit him. don't believe them.@í neil: look up. over much of the country, it's the same story. a massive snowstorm slamming a good chunk of the country, but one week before the automatic cuts are set to kick in, the new york new york say -- the "new york times" says the president and democrats are calm in the budget storm and kicking their feet up. the headline says it all. for obama and team, calm, not crisis, similar mewlated fiscal battle. the times has not had to listen to them. >> our country's less safe and communities' less safe as a result of sequester. >> federal probation prosecutoro close cases and let criminals go. >> furloughs of air traffic controllers, border patrol. >> air traffic controllers and airport security will see cutbacks. >> thousands of teachers and educators will be laid off. neil: comedian says the union guys who hit him are calmer. you know, i

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